Describe a business that used to operate locally when you were young, but no longer operates/exists today. Provide an example of a business that operates locally today, that did not operate/exist when you were young.

by

The Invisible Hand: Changing Markets

Describe a business that used to operate locally when you were young, but no longer operates/exists today. Provide an example of a business that operates locally today, that did not operate/exist when you were young.

  • Be specific in describing the nature of the business that no longer operates, and the customers they used to serve.
  • What happened in the market that caused the demand for their product to decrease?
  • Is there a newer and better substitute product that contributed to the decrease in demand?
  • Provide a counter-example of a business that does operate today that did not operate/exist when you were young.
  • It is possible that the new business replaced the old business, but that does not have to be the case.